Day: September 24, 2023

CREAM price skyrockets 60%; pump and dump scheme?

Cream Finance’s native token, CREAM, has experienced a 60% price surge, making it the star of the weekend in the decentralized finance (defi) sector. Per data from CoinMarketCap, captured by blockchain analysts Lookonchain, the price of Cream Finance’s CREAM token surged by more than 60% on Sept. 23. CREAM price chart | Source: CoinMarketCap via Lookonchain According to Lookonchain, the token’s impressive rise is primarily credited to Jeffrey Huang, better known as Machi Big Brother, whose strategic maneuvers in the crypto market have been the subject of past controversies. Lookonchain’s…

Pay-to-use blockchains will never achieve mass adoption

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Pay-to-use blockchains are done. Not for us, of course — the nerdy crypto crowd. We’re perfectly happy to open wallets, engrave seed phrases on steel cards we bury in the ground, find exchanges we haven’t been blocked from yet, wrap some assets to leverage yield, and become OpSec professionals while we pray to the blockchain gods that the North Koreans aren’t online right now. We’re fine with this. Years of experience have dulled the pain. But the mass adoption we all hoped for? It relies on the 99% of people…

Former SEC attorney John Reed Stark urges DOJ to ‘wake up’

A former attorney of the U.S. Securities and Exchange Commission (SEC) believes prosecution by the Department of Justice (DOJ) is necessary to deal with crypto grifters. John Reed Stark, who spent 15 years as an SEC enforcement attorney leading cyber-related investigations, says crypto criminals treat regulatory enforcement with levity. DOJ prosecution in crypto-related fraud cases was lacking compared to the numerous enforcement actions by the SEC, he wrote on X. The situation is “mind-boggling,” Stark added. SBF’s Mom and Dad: Criminal Beneficiaries, Profiteers, Conspirators and Enablers I served for almost…

Worldcoin’s World ID surpasses 1% of Chilean population

The digital identity project Worldcoin has garnered significant interest in Chile, with over 200,000 verified users since its launch in July 2023. In a Sept. 24 blog post, Worldcoin announced that more than 200,000 Chileans had signed up for its global identity protocol, World ID. For a country boasting a population of approximately 19.5 million, these figures represent over 1% of the citizens. According to Worldcoin, to cater to its burgeoning demand, new operations have been kick-started in the cities of Vina del Mar and Concepcion via its project contributors,…

Crypto traders shift focus to these 4 altcoins as Bitcoin price flatlines

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Bitcoin (BTC) has been trading in a tight range for the past three days even as the S&P 500 fell for the last four days of the week. This is a positive sign as it shows that cryptocurrency traders are not panicking and rushing to the exit.  Bitcoin’s supply seems to be gradually shifting to stronger hands. Analyst CryptoCon said citing Glassnode data that Bitcoin’s short-term holders (STHs), investors who have held their coins for 155 days or less, hold the least amount of Bitcoin supply in more than a…

Shiba Inu price goes green after bearish consolidation

The price of Shiba Inu has made a recovery days after it hit a near-term low. Shiba Inu (SHIB), the meme coin with the second-largest market capitalization, has shrugged off the bearish grip that had held it in the last few days, culminating in a near-term low of $0.000007195 on Sept. 21. At the time of writing, SHIB had witnessed robust buying activity, with data from CoinMarketCap indicating a figure of $123,205,529. It was a near-80% improvement from the previous 24 hours and played a significant role in pushing up…

What is ChatPDF? | Blockchain News

Introduction ChatPDF is a specialized platform that utilizes ChatGPT technology to offer advanced PDF processing capabilities. Aimed at a diverse user base including students, researchers, and professionals, the service is engineered to summarize PDF content and respond to queries related to it. While the platform currently operates on GPT-3.5 technology, it is exploring the integration of GPT-4, although this feature may not be available on the free plan due to cost considerations. This wiki delves into the various functionalities, target user segments, pricing structures, and legal aspects of ChatPDF. Core…

Upbit falls victim to fraudulent deposit incident

South Korea’s top crypto exchange, Upbit, has fallen victim to a fraudulent deposit incident, throwing its operations into chaos. On Sept. 24, Upbit reportedly halted the depositing and withdrawal of Aptos (APT) tokens after discovering that some of them were fake.  Apparently, an unknown entity managed to deposit counterfeit coins, which Upbit’s systems erroneously recognized as APT tokens, into the exchange. Consequently, fake coins — identified as “ClaimAPTGift” — were disseminated into several unspecified accounts. The information was first made public by “Definalist,” an X account run by several South…

Binance, Coinbase navigate challenges; FTX drama takes turn

Hong Kong, Australia, and Venezuela took center stage as regulatory actions rocked the scene. Meanwhile, Sam Bankman-Fried’s parents face lawsuits while Binance and Coinbase navigate challenges.  Hong Kong ramps up efforts During the Shanghai Blockchain International Week, Duncan Chiu, a member of Hong Kong’s Legislative Council, announced the forthcoming implementation of stablecoin regulations in Hong Kong by mid-2024. This endeavor stands in stark contrast to China’s rigorous cryptocurrency policies.  Authorities in Hong Kong previously apprehended 11 individuals linked to a cryptocurrency fraud case associated with the JPEX platform. This decisive…

What The Drop In Spot And Derivatives Volumes Means For The Price Of Bitcoin

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It has been a quiet week of caution for Bitcoin traders in terms of price action. This caution has trickled into trading volume in particular, as volumes on major crypto exchanges for both spot Bitcoin trading and Bitcoin derivatives have fallen far below their levels at the beginning of the year. On-chain data from CryptoQuant charts have shown the daily spot and derivatives trading volume of Bitcoin has been steadily declining since the first quarter of the year. The question is, what does this collapse in trading volumes mean for…